– Accounting System and Reports Sample Clauses

– Accounting System and Reports. The Board of Trustees shall cause to be established and maintained a complete accounting system which, among other things, subject to applicable laws and rules and regulations of any regulatory body, shall conform to such accounting system as may be designated by the Administrator of the Rural Utilities Service of the United States of America. All accounts of the Cooperative shall be examined by a committee of the Board of Trustees which shall render reports to the Board of Trustees at least four times a year at regular meetings of the Board of
Sample 1
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– Accounting System and Reports. The Offeror shall use GAAP accounting in all transactions dealing with operation of all areas of the FSOB facility. On a monthly basis, the Offeror shall submit a written report for the previous month’s customer counts for the entire operation. Offeror shall handle all accounting for catering and any other special events, up to the point of Offeror’s invoices issued to FAC that itemize departmental charges for each preceding accounting period. Offeror shall prepare and present to FAC by June 30th of every year an annual budget for all FSOB operations, including detail for each like item of expense and all appropriate assumptions and justifications. FAC will handle all interdepartmental transfers. Each month during the term of the contract, the selected Offeror shall submit to the FAC a written Gross Sales Summary Statement on a form approved by the FAC and subscribed to by the selected Offeror's on-site general manager. This Gross Sales Summary Statement shall include a separate itemization of gross sales generated from the food service operation during the preceding monthly accounting period. The gross sales on this statement will be the basis for the percentage return to the FAC. The selected Offeror shall maintain an accounting system at the FSOB which shall provide a clear understanding of how gross sales are determined. This accounting system shall provide detailed support for the Gross Sales Summary Statement. This support shall, at a minimum, consist of cash register receipts, and group invoices, and shall be organized to provide easy reconciliation to the Gross Sales Summary Statement. This support shall be submitted monthly to the FAC at the same time as the Gross Sales Summary Statement. The Offeror shall submit a description or an example of the accounting system to be used by the dining services at the FSOB in their proposal submittal. See Section IV TT. The selected Offeror agrees to permit the FAC and its agents and representatives, at reasonable intervals, at any and all times during the selected Offeror's usual business hours to inspect all books, records and accounts of the selected Offeror showing gross sales from all business conducted under this contract, provided that such inspections do not interfere unduly with the selected Offeror's operations hereunder. Further, the selected Offeror shall, within sixty (60) days after June 30 of each year under contract following the actual opening of the FSOB, supply a statement of gross sales for...
Sample 1
– Accounting System and Reports. The Board of Directors shall cause to be established and maintained a complete accounting system which, among other things, complies with applicable laws and rules and regulations of any regulatory body. The Board of Directors shall also cause to be made a full and complete audit of the accounts, books and financial condition of the Cooperative as of the end of each fiscal year. Such audit reports shall be available to the Members for inspection.
Sample 1

Related to – Accounting System and Reports

  • Accounting System Requirement The Contractor shall maintain an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles or “GAAP.”

  • Records and Reports The contractor shall keep such records as necessary to document compliance with the EEO requirements. Such records shall be retained for a period of three years following the date of the final payment to the contractor for all contract work and shall be available at reasonable times and places for inspection by authorized representatives of the contracting agency and the FHWA. a. The records kept by the contractor shall document the following: (1) The number and work hours of minority and non- minority group members and women employed in each work classification on the project; (2) The progress and efforts being made in cooperation with unions, when applicable, to increase employment opportunities for minorities and women; and (3) The progress and efforts being made in locating, hiring, training, qualifying, and upgrading minorities and women; b. The contractors and subcontractors will submit an annual report to the contracting agency each July for the duration of the project, indicating the number of minority, women, and non-minority group employees currently engaged in each work classification required by the contract work. This information is to be reported on Form FHWA-1391. The staffing data should represent the project work force on board in all or any part of the last payroll period preceding the end of July. If on-the-job training is being required by special provision, the contractor will be required to collect and report training data. The employment data should reflect the work force on board during all or any part of the last payroll period preceding the end of July.

  • Information and Reports A. The Subadviser shall keep the Fund and the Adviser informed of developments relating to its duties as Subadviser of which the Subadviser has, or should have, knowledge that would materially affect the Designated Series. In this regard, the Subadviser shall provide the Fund, the Adviser and their respective officers with such periodic reports concerning the obligations the Subadviser has assumed under this Agreement as the Fund and the Adviser may from time to time reasonably request. In addition, prior to each meeting of the Trustees, the Subadviser shall provide the Adviser and the Trustees with reports regarding the Subadviser’s management of the Designated Series during the most recently completed quarter, which reports: (i) shall include Subadviser’s representation that its performance of its investment management duties hereunder is in compliance with the Fund’s investment objectives and practices, the Act and applicable rules and regulations under the Act, and the diversification and minimum “good income” requirements of Subchapter M under the Internal Revenue Code of 1986, as amended, and (ii) otherwise shall be in such form as may be mutually agreed upon by the Subadviser and the Adviser. B. Each of the Adviser and the Subadviser shall provide the other party with a list, to the best of the Adviser’s or the Subadviser’s respective knowledge, of each affiliated person (and any affiliated person of such an affiliated person) of the Adviser or the Subadviser, as the case may be, and each of the Adviser and Subadviser agrees promptly to update such list whenever the Adviser or the Subadviser becomes aware of any changes that should be added to or deleted from the list of affiliated persons. C. The Subadviser shall also provide the Adviser with any information reasonably requested by the Adviser regarding its management of the Designated Series required for any shareholder report, amended registration statement, or Prospectus supplement to be filed by the Fund with the SEC.

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